FR in a world of their own
Air travel is very safe, but not a business where corners should be continually cut. A refusal to refund when THEY cancel a flight or change it by several hours, to me, suggests probable avoidance of responsibility and penny pinching in every department. Most companies - in any business - would be more concerned about customer satisfaction and goodwill than holding onto £20. So, what other corners might they cut and pennies might they pinch that passengers cannot see? Personally, I would rather fly a bit less, and pay a bit more, to use a less cost-cutting-obsessed airline.
Oh, if you do fly FR, help your Cabin crew survive. Buy one of those ridiculously expensive bottles of water and a sandwich and give it to THEM. According to stories on the web, FR have stopped giving crews food or water, though they may work up to 12 hours a day.